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Showing 101 - 110 of 433 results for "Home loan"

NAB faces half a billion in fines

ELIZA BAVIN  |  WEDNESDAY, 13 NOV 2019
... 'spot and refer' requirement by accepting information and documentation from unlicensed introducers, including completed home loan applications, payslips, copies of customer identification documents and more. ASIC said the program was allegedly exploited ...

CBA wealth boss to exit

KANIKA SOOD  |  WEDNESDAY, 13 NOV 2019
The chief executive of NewCo is set to exit among other changes to Commonwealth Bank's group executive lineup. Jason Yetton will depart in early January 2020 after just over 12 months in the role. To date, Yetton oversaw the divestment of Count ...

ACCC to probe rate cut decisions

HARRISON WORLEY  |  MONDAY, 14 OCT 2019
The Australian Competition and Consumer Commission (ACCC) has been directed by the government to immediately establish an inquiry into the behaviour of Australia's banks when it comes to passing on interest rate cuts. Announcing the inquiry on this ...

Treasurer moves on broker remuneration

ELIZABETH MCARTHUR  |  TUESDAY, 27 AUG 2019
... recommendations. "Mortgage brokers play an important role in promoting good consumer outcomes and competition in the home loan market. Mortgage brokers have a strong presence in the home loan market accounting for close to 60 % of home loans," Frydenberg ...

Court dismisses Westpac lending practice case

KARREN VERGARA  |  THURSDAY, 15 AUG 2019
... March 2015, the bank failed to properly assess whether borrowers could meet repayment obligations before entering into home loan contracts. Westpac's automated system used a benchmark called the Household Expenditure Measure or HEM to assess consumer ...

More scrutiny for super fund, insurance firm chiefs

KARREN VERGARA  |  MONDAY, 5 AUG 2019
... compensate some customers Elliot said some customers had to wait 15 years for refunds when the bank's system calculated home loan products incorrectly; he admitted that this was "shameful" and "wrong." The major banks inquiry provide an opportunity ...

CFSGAM sale clears regulatory hurdles

KANIKA SOOD  |  FRIDAY, 26 JUL 2019
Commonwealth Bank has received all regulatory approvals to sell its global asset management business to Japanese banking giant. The $4.2 billion sale to Mitsubishi UFJ Trust and Banking Corporation (MUTB) is expected completion is in August, CBA said ...

AFCA delivers $83 million win

ELIZABETH MCARTHUR  |  MONDAY, 15 JUL 2019
The Australian Financial Complaints Authority has collected over $83 million for consumers and small businesses in just six months. In its first six months of operations, AFCA received over 35,000 complaints and 60% of those have already been resolved. ...

Suncorp named Bank of the Year

ELIZABETH MCARTHUR  |  THURSDAY, 4 JUL 2019
... finalists. " Money 's Consumer Finance Awards take the guesswork out of choosing your next credit card provider or home loan lender," said Baltazar. "These awards are more important than ever in an environment where consumers are faced with an overwhelming ...

Property risks dip at Coalition win, APRA easing

KANIKA SOOD  |  WEDNESDAY, 22 MAY 2019
UBS has materially reduced downside risk for housing as last Saturday's elections lay to rest Labor's negative gearing plans and separately, APRA is easing its stance on mortgage lending. "The main implication of the election is the absence of expected ...